At the Henderson Economic Development Corporation, our objective is to help “pave the way” so local businesses can expand and grow, be more profitable and employ more citizens. In addition, we seek to find new businesses that are looking for a great place to do business, raise a family and call home.
In short, you really can Grow Your Future in Henderson, Texas!
Texas’ Business Climate
Texas offers companies of all sizes and across all industries one of the best business climates in the nation, with a fair, transparent tax and regulatory structure designed for businesses to succeed.
With no corporate or personal income tax at the state level, companies operating in Texas enjoy one of the lowest overall tax burdens in the country. Texas is committed to maintaining its position as the best state for business, and recently passed legislation providing over $4 billion in tax relief for businesses.
Not to mention, Texas is home to one of the largest, most competitive deal-closing funds in the nation, the Texas Enterprise Fund.
Powered by nearly 50 Fortune 500 companies, thousands of international and small businesses, and a diverse, skilled workforce of 13.5 million, the Texas economy is the 10th largest when compared to the nations of the world.
Texas prides itself on being a right-to-work state, and will continue to make strategic investments to ensure it maintains our competitive advantage, allowing businesses to prosper and grow.
The Texas Enterprise Fund (TEF) was established in 2003 to help attract new jobs and investment to the state. The fund was renewed by the Legislature in 2017. As the largest "deal-closing" fund of its kind in the nation, the TEF continues to attract businesses to Texas. The fund is used only as a final incentive tool where a single Texas site is competing with another viable out-of-state option. Additionally, the TEF will only be considered to help close a deal that already has significant local support behind it from a prospective Texas community.
In Addition to the Texas Enterprise Fund, the State of Texas has a additional incentive programs that can be found at this link.
The Skills Development Fund is Texas' premier job-training program providing local customized training opportunities for Texas businesses and workers to increase skill levels and wages of the Texas workforce. The Texas Workforce Commission administers funding for the program. Success is achieved through collaboration among businesses, public community and technical colleges, Workforce Development Boards and economic development partners.
More information about the Skills Development Fund can be found here.
HEDCO’s Local Services and Incentives
Site selection assistance is a basic service we provide to all sizes of companies. We seek to help companies find the perfect site or building in which to do business. There is no cost to these services.
HEDCO’s board and staff are dedicated to assisting all sizes of businesses with their growth needs, though our primary focus is on companies that manufacture or distribute goods and services that are sold outside our region, therefore, boosting the local economy with new money. In addition to the State of Texas business assistance programs, HEDCO has a number of tools available at the local level to assist with business growth and expansion. No two businesses are the same and neither are their needs. HEDCO staff will work diligently with each and every business to put together the best package possible, much like a “cafeteria plan.”
Some of the incentives possible are reductions of the cost of land, job creation grants, tax abatement, tax increment financing (TIRZ), revolving loan funds, Chapter 380 agreements, and infrastructure incentives. Incentive awards are based on project impact including capital investment, number of full-time permanent jobs created and overall payroll over a period of time.
Ready to Build Your Future In Henderson? Contact Us.